Actuant Corp., Milwaukee, WI, reported sales of $380 million for the first quarter ended Nov. 30, a decline of 8% over the same period a year ago. Excluding the impact of currency exchange rates and acquisitions, sales declined 11%. Profit dropped 58% to $11.6 million.
First quarter Industrial segment sales improved 20% to $164.5 million. Core sales grew 12%, driven by strong global demand for joint integrity maintenance products and services for the oil &gas and power generation markets, as well as for high-force hydraulic tools.
Sales in the Electrical segment declined 24% to $102 million. Core sales decreased 22% reflecting weak demand from retail, marine and transformer customers, SKU reduction in the European Electrical product line, and loss of …
Actuant Sales Down 8% in 1Q
Actuant Corp., Milwaukee, WI, reported sales of $380 million for the first quarter ended Nov. 30, a decline of 8% over the same period a year ago. Excluding the impact of currency exchange rates and acquisitions, sales declined 11%. Profit dropped 58% to $11.6 million.
First quarter Industrial segment sales improved 20% to $164.5 million. Core sales grew 12%, driven by strong global demand for joint integrity maintenance products and services for the oil &gas and power generation markets, as well as for high-force hydraulic tools.
Sales in the Electrical segment declined 24% to $102 million. Core sales decreased 22% reflecting weak demand from retail, marine and transformer customers, SKU reduction in the European Electrical product line, and loss of …
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